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myeconomist.wordpress.com/indias-black-money-in-swiss-bank/
INDIA`S BLACK MONEY IN SWISS BANK
This is not so surprising .India is the world`s
most corrupt country.Corruption is not new in
India.Recently due to international pressure,
Swiss government agreed to disclose the names
of the account holders only if the respective
government formally asked for it.
Black money in Swiss banks — Swiss
Banking Association report, 2006 details
bank deposits in the territory of
Switzerland by nationals of following
countries:
Top five
India—- $1,456 billion
Russia —$ 470 billion
UK ——-$390 billion
Ukraine – $100 billion
China —–$ 96 billion
India has more money in Swiss bank than all
the other countries combined.Second best
Russia has 4 times lesser deposit. US is not even
there in the counting in top five.
609 people in India having legal property
more than Rs- 100 crores (Rs- 10
Million). Indian President one day living
cost is Rs-8 crore, living in a place
where 350 flats.One day Indian
Parliament running cost is around 9 crore
Rupees.Britishers looted 350 Lakh Crore
in 250 years whereas Indian himself
looted 330 crore. 70 Lakh crore only
deposited in swiss bank. 84000 corrupt
people in India.India has around 450
Billion dollar of coal deposit & 170
billion of iron ore deposit,looted by state
politicians .According to Indian
Government around 1 Lakh place in India
where people doing illegal mining.
Dishonest persons, scandalous politicians and
corrupt IAS , IPS officers have deposited in
foreign banks in their illegal personal accounts a
sum of about $ 1500 billion, which have been
misappropriated by them. From 2003 to 2010 out
of 5,635 IPS officers fifty( 50 ) IPS officers were
resigned and joined private company.
This amount is about 13 times larger
than the country’s foreign debt . With this
amount 45 crore poor people can get Rs
1,00,000 each. This huge amount has been
appropriated from the people of India by
exploiting and betraying them.
Some 80,000 people travel to
Switzerland every year, of whom 25,000
travel very frequently.“Obviously, these
people won’t be tourist s.
Why our Indian Government is not asking
to swiss Bank? Well the answer is
simple , our Government is working
under the influence of those politicians &
industrialists who have huge deposit in
Swiss bank.They cann`t expose their
own people.
USA have settled their Swiss bank
Account & their top Billionares in their
countries paid to their country 50% of
their Money which includes Gates &
Bloomberg.Italy got 6.4 Billion dollar
from swiss Bank,Germany got 5.7 Billion
dollar from swiss Bank & France got 1.7
Billion dollar from swiss Bank.
Schweitzer Illustrierte , a Swiss news
magazine,published on 19th November 1991, has
alleged in an old issue that the Soviet
intelligence agency KGB had deposited US
$2.2 billion in a Swiss bank account in
1985 in the “minor” account of Rahul Gandhi
managed by his mother Sonia Gandhi .
Janata Party President Dr Subramanian
Swamy , who had secured an order from the
Delhi High Court to the CBI to investigate alleged
receipt of slush money by late former Prime
Minister Rajiv Gandhi’s family, has cited a
November 1991 issue of the Swiss magazine
in support of his charge.He has further claimed
that the payments were authorized by CPSU by a
resolution CPSU/CC/No 11228/3 dated
20/12/1985 and the same was also endorsed
by the USSR Council of Ministers in Directive No
2633/Rs dated 20/12/1985. He also claimed that
these payments had been coming since 1971 as
the payments received by Sonia Gandhi’s family
“have been audited in CPSU/CC resolution No
11187/22 OP dated 10/12/1984. Reference:–
TWO BILLION DOLLARS IN RAHUL GANDHI'S ACCOUNT?
Why Government is not taking action on corrupt
peoples ? Why CBI is not independently
working? well answer is simple ,Government is
taking lots of money in the name of party fund
and also taking help from those politicians who
are involved in
criminal charges.Whole police in India is working
under politicians. According to RBI(Reserve
Bank Of India) Rupees 17,18,826 crore
notes print in India between year
2000-2010. Rupees 10 Lakh Crore money
incirculation in India. Generally 2-3 % of
GDP money circulation in other
countries. But Indian Government has
allowed four Swiss bank & Eight Bank
of Italy in India.
Sources says that NGO is also engaged
in converting black money into white
Money.
swiss bank(ubs) revealed 6000 USA
people names . In may 2008 Germany
bank revealed 28 people names but
government is still hiding their names.
Even the Supreme court of India asked
for names three times. But Government
only make deal with 23 countries of
Double Taxation.
USA got his
money, France , Italy , countries like
Singapore fought and get their
money.India has more than 3.5 crore
taxpayers. Black Money can be used by
terrorists. Probably they are trying to
move money to other countries or will
invest in real-estate like in dubai or arab
countries.After huge pressure from
media & civil society Government has
joined FATA (Financial Action Task
Force) group only to delay issue.
India Today - Breaking News from India, World, Business and Politics
Story/126998/LATEST%20HEADLINES/
indian-link-to-swiss-money-trail-
revealed.html
In the data shared by Ex-Swiss banker Rudolf
Elmer , there are at least three companies that
go by the name of Annapurna. These accounts
have been opened in the New York branch of the
Swiss Bank Julius Baer.These accounts are
Annapurna Convertible Ltd, account number
420331. Annapurna Leverage Ltd, account
number 427039 .Annapurna Convertible USD,
account number 431916.Money running into
crores of rupees has been stashed away in these
accounts.57 million dollars or Rs 259 crore have
been stashed away in Annapurna Convertible ltd.
18.6 million dollars or Rs 84 crore are lying in
Annapurna Leverage Limited.And 10.3 million
dollars or Rs 45 crore are hidden away in the
account of Annapurna Convertible.Interestingly,
the documents list the same company and same
person as managing all the Annapurna
accounts.Annapurna Convertible, Annapurna
Leverage and Annapurna Convertible USD are all
managed by Pius Fisch of Fisch Asset
Management .The other name to come out was
that of Asad Ali Khan and his wife Zahida,
who was a co-account holder. Headlines Today
scoured through the records sent to us by Rudolf
Elmer and found out how Asad Ali Khan had
siphoned off a huge amount of money to the
Julius Baer Bank in Cayman Islands.A company
in the name of Unicorp Services was
incorporated in Cayman Islands.Its registered
address is Post Box 1100, Kirk House, Grand
Cayman Island, BWI.According to Elmer’s
documents, the registration number of the
company is 00233755.In the year 1999, Asad Ali
Khan and Zahida were present for the dissolution
of this company as directors of Unicorp Services
in Cayman Islands.Elmer’s data also shows that
the account was being managed by J.M.I.
Gillani.The official address is: Banque Julius
Baer, 2 Boulevard du Theatre, Case Postale, CH
1211, Geneva 11, Switzerland.
Where Black money is being used?
Election, Air travel , Tour, Restaurants, Land,
Jewelery.
Who is involved in Black Money? Senior
bureaucrats (IAS,IPS officers), Ministers of
Export-Import,Comerce, Chief Ministers, Top
Industrialists , Horse Trader, Liquor Trader.
4000 kg gold sold in year 2010 in India.
144 nations signed UNCAC (United Nation
Convention Against Corruption) but India is not
signing because Indian Government is engaged
in corruption. UNCAC Opened for signature from
9 December 2003 by the UN General Assembly &
last date was 14 December 2005.
Highly placed sources in New Delhi and Mumbai
say much of the money held in Swiss banks, and
other tax havens like the Bahamas, have been
routed into the Indian stock exchanges through
Participatory Note (PN) bought in Mauritius
through front companies. Since these instruments
are not registered to trade in Indian domestic
capital markets, the investors’ names remain
undisclosed. “The route to take out the money is
hawala and to bring it back is Participatory
Note ,” says Hemen Kapadia, one of Mumbai’s
top stock market analysts. Roughly 50-60
percent of FII investments, aggregating $85
billion till late 2009, were made through the
Participatory Note route. And according to
Kapadia, this route saw 75 percent traffic in the
last few months. A worried market regulator, the
Securities and Exchange Board of India (SEBI) is
now learnt to have asked several FIIs to furnish
details of the Participatory Note issued to their
clients, but it has been consistently stonewalled.
“They will always win by citing client
confidentiality agreements, and I doubt whether
SEBI has the necessary legal teeth to probe
further,” Kapadia points out.
India`s economic debt— http://
www.indiabudget.nic.in/es2009-10/
chapt2010/tab84.pdf
FII investment in Indian stocks this year touched
a record $18.13 billion ( Rs.82,360 crore),
according to the SEBI website. In dollar
terms the previous high was in 2007 ($17.65
billion) and in rupee terms in 2009 . Stock
market analysts say FII investment in rupee terms
is lower because of appreciation in the Indian
currency against the dollar. The Sensex last
year gained over 80 percent — a figure it
is likely to surpass this year.
Not taking into account the recently
concluded Coal India IPO, the FII bids
amounted to Rs. 1.20 lakh crore. Some
foreign entities that have placed large bids for
Coal India through PNs include Citibank ($1
billion), Merrill Lynch ($2 billion) and Deutsche
Bank ($3 billion). The Qualified Institutional Buyer
(QIB) quota in the Coal India IPO that was
oversubscribed 24 times was primarily due to
intense FII interest.
In fact, in 2007, when the then National
Security Adviser MK Narayanan had
spoken of terror funds routinely
penetrating and manipulating the
markets, he was hinting at PNs. Earlier,
the RBI too had come out with a report
expressing concern over the illegal
traffic. At that time 89 percent of the
funds invested by FIIs had come through
the PN route, RBI data
showed.According to recent estimates,
roughly $200 billion — four times the
external debt of Pakistan — is stashed
away in Swiss banks and is now being
withdrawn .
“A major area of vulnerability for us is the high
consolidated public-debt to GDP ratio of over 70
percent … (and) consolidated fiscal deficit,” says
the Governor of Reserve Bank of India (RBI), Mr.
Yaga Venugopal Reddy.
According to CIA world fact book, the Current
account balance of India is MINUS
-37,510,000,000 (minus) while China is the
wealthiest country in the world with $
426,100,000,000 (Plus) . India listed as 182 and
China as no.1 . Money inflow in India is
currently Rs 7,000 crore.
Total number of registered corruption
cases was 64,00,000 in 1989 , now in
year 2010 is 1,64,00,000 .
Hasan Ali 6 Billion Dollar swiss Bank
account—-
India News, Latest News in India, Live News India, India Breaking News - Times of India
Hasan-Alis-6bn-in-Swiss-accounts-
missing/articleshow/7365076.cms
Surely it`s time to Ban 1000 rupee note
—-
GovernanceNow.com | News
regular-story/check-corruption-ban-
rs-1000-note
Sources say that NGO is the main
source of Black Money in India.
Hindustan Times- Breaking News, India, World, Bollywood, Sports, Business
NGOs-blacklisted-for-misappropriation-
of-funds/H1-Article1-488589.aspx
The GFI report says, “From 1948 through
2008, India lost a total of $213 billion in
illicit financial flows (or illegal capital
flight). These illicit financial flows were
generally the product of corruption, bribery and
kickbacks, and criminal activities.” The total of
$213 billion is a misleading figure because “the
present value of India’s illicit financial flows is at
least $462 billion ,” the GFI report explains,
adding, “This is based on the short-term US
Treasury bill rate as a proxy for the rate of return
on assets.” The GFI (Global Financial
Integrity) report points out that the “total
capital flight represents approximately
16.6 percent of India’s GDP as of year-
end 2008”; that “illicit financial flows out
of India grew at 11.5 per cent per year”;
and, that “India lost $16 billion per year
between 2002-2006”.The present value
of illicit assets held abroad ($462 billion)
“accounts for approximately 72 per cent
of India’s underground economy —
which has been estimated to account for
50 per cent of India’s GDP ($640 billion
at the end of 2008)”. Just above a quarter of
illicit assets are held domestically.The fact that
deposits in tax havens have increased from 36.4
per cent of illicit financial flows in 1995 to 54.2
per cent in 2009 tells its own story.
Well if Swiss Bank cann`t give information to
India then why Indian Government is not
stopping money that they are coming
from outside India . But how can a corrupt
system do?
We need to start a movement to pressurize the
government to do so !! this is perhaps the only
way, and a golden opportunity, to expose the
high and mighty and weed out corruption !!
Is India poor, who says? Ask Swiss banks With
personal account deposit bank of $1500 billion in
foreign reserve which have been
misappropriated, an amount 13 times larger than
the country’s foreign debt, one needs to rethink if
India is a poor country?.
INDIA`S BLACK MONEY IN SWISS BANK
This is not so surprising .India is the world`s
most corrupt country.Corruption is not new in
India.Recently due to international pressure,
Swiss government agreed to disclose the names
of the account holders only if the respective
government formally asked for it.
Black money in Swiss banks — Swiss
Banking Association report, 2006 details
bank deposits in the territory of
Switzerland by nationals of following
countries:
Top five
India—- $1,456 billion
Russia —$ 470 billion
UK ——-$390 billion
Ukraine – $100 billion
China —–$ 96 billion
India has more money in Swiss bank than all
the other countries combined.Second best
Russia has 4 times lesser deposit. US is not even
there in the counting in top five.
609 people in India having legal property
more than Rs- 100 crores (Rs- 10
Million). Indian President one day living
cost is Rs-8 crore, living in a place
where 350 flats.One day Indian
Parliament running cost is around 9 crore
Rupees.Britishers looted 350 Lakh Crore
in 250 years whereas Indian himself
looted 330 crore. 70 Lakh crore only
deposited in swiss bank. 84000 corrupt
people in India.India has around 450
Billion dollar of coal deposit & 170
billion of iron ore deposit,looted by state
politicians .According to Indian
Government around 1 Lakh place in India
where people doing illegal mining.
Dishonest persons, scandalous politicians and
corrupt IAS , IPS officers have deposited in
foreign banks in their illegal personal accounts a
sum of about $ 1500 billion, which have been
misappropriated by them. From 2003 to 2010 out
of 5,635 IPS officers fifty( 50 ) IPS officers were
resigned and joined private company.
This amount is about 13 times larger
than the country’s foreign debt . With this
amount 45 crore poor people can get Rs
1,00,000 each. This huge amount has been
appropriated from the people of India by
exploiting and betraying them.
Some 80,000 people travel to
Switzerland every year, of whom 25,000
travel very frequently.“Obviously, these
people won’t be tourist s.
Why our Indian Government is not asking
to swiss Bank? Well the answer is
simple , our Government is working
under the influence of those politicians &
industrialists who have huge deposit in
Swiss bank.They cann`t expose their
own people.
USA have settled their Swiss bank
Account & their top Billionares in their
countries paid to their country 50% of
their Money which includes Gates &
Bloomberg.Italy got 6.4 Billion dollar
from swiss Bank,Germany got 5.7 Billion
dollar from swiss Bank & France got 1.7
Billion dollar from swiss Bank.
Schweitzer Illustrierte , a Swiss news
magazine,published on 19th November 1991, has
alleged in an old issue that the Soviet
intelligence agency KGB had deposited US
$2.2 billion in a Swiss bank account in
1985 in the “minor” account of Rahul Gandhi
managed by his mother Sonia Gandhi .
Janata Party President Dr Subramanian
Swamy , who had secured an order from the
Delhi High Court to the CBI to investigate alleged
receipt of slush money by late former Prime
Minister Rajiv Gandhi’s family, has cited a
November 1991 issue of the Swiss magazine
in support of his charge.He has further claimed
that the payments were authorized by CPSU by a
resolution CPSU/CC/No 11228/3 dated
20/12/1985 and the same was also endorsed
by the USSR Council of Ministers in Directive No
2633/Rs dated 20/12/1985. He also claimed that
these payments had been coming since 1971 as
the payments received by Sonia Gandhi’s family
“have been audited in CPSU/CC resolution No
11187/22 OP dated 10/12/1984. Reference:–
TWO BILLION DOLLARS IN RAHUL GANDHI'S ACCOUNT?
Why Government is not taking action on corrupt
peoples ? Why CBI is not independently
working? well answer is simple ,Government is
taking lots of money in the name of party fund
and also taking help from those politicians who
are involved in
criminal charges.Whole police in India is working
under politicians. According to RBI(Reserve
Bank Of India) Rupees 17,18,826 crore
notes print in India between year
2000-2010. Rupees 10 Lakh Crore money
incirculation in India. Generally 2-3 % of
GDP money circulation in other
countries. But Indian Government has
allowed four Swiss bank & Eight Bank
of Italy in India.
Sources says that NGO is also engaged
in converting black money into white
Money.
swiss bank(ubs) revealed 6000 USA
people names . In may 2008 Germany
bank revealed 28 people names but
government is still hiding their names.
Even the Supreme court of India asked
for names three times. But Government
only make deal with 23 countries of
Double Taxation.
USA got his
money, France , Italy , countries like
Singapore fought and get their
money.India has more than 3.5 crore
taxpayers. Black Money can be used by
terrorists. Probably they are trying to
move money to other countries or will
invest in real-estate like in dubai or arab
countries.After huge pressure from
media & civil society Government has
joined FATA (Financial Action Task
Force) group only to delay issue.
India Today - Breaking News from India, World, Business and Politics
Story/126998/LATEST%20HEADLINES/
indian-link-to-swiss-money-trail-
revealed.html
In the data shared by Ex-Swiss banker Rudolf
Elmer , there are at least three companies that
go by the name of Annapurna. These accounts
have been opened in the New York branch of the
Swiss Bank Julius Baer.These accounts are
Annapurna Convertible Ltd, account number
420331. Annapurna Leverage Ltd, account
number 427039 .Annapurna Convertible USD,
account number 431916.Money running into
crores of rupees has been stashed away in these
accounts.57 million dollars or Rs 259 crore have
been stashed away in Annapurna Convertible ltd.
18.6 million dollars or Rs 84 crore are lying in
Annapurna Leverage Limited.And 10.3 million
dollars or Rs 45 crore are hidden away in the
account of Annapurna Convertible.Interestingly,
the documents list the same company and same
person as managing all the Annapurna
accounts.Annapurna Convertible, Annapurna
Leverage and Annapurna Convertible USD are all
managed by Pius Fisch of Fisch Asset
Management .The other name to come out was
that of Asad Ali Khan and his wife Zahida,
who was a co-account holder. Headlines Today
scoured through the records sent to us by Rudolf
Elmer and found out how Asad Ali Khan had
siphoned off a huge amount of money to the
Julius Baer Bank in Cayman Islands.A company
in the name of Unicorp Services was
incorporated in Cayman Islands.Its registered
address is Post Box 1100, Kirk House, Grand
Cayman Island, BWI.According to Elmer’s
documents, the registration number of the
company is 00233755.In the year 1999, Asad Ali
Khan and Zahida were present for the dissolution
of this company as directors of Unicorp Services
in Cayman Islands.Elmer’s data also shows that
the account was being managed by J.M.I.
Gillani.The official address is: Banque Julius
Baer, 2 Boulevard du Theatre, Case Postale, CH
1211, Geneva 11, Switzerland.
Where Black money is being used?
Election, Air travel , Tour, Restaurants, Land,
Jewelery.
Who is involved in Black Money? Senior
bureaucrats (IAS,IPS officers), Ministers of
Export-Import,Comerce, Chief Ministers, Top
Industrialists , Horse Trader, Liquor Trader.
4000 kg gold sold in year 2010 in India.
144 nations signed UNCAC (United Nation
Convention Against Corruption) but India is not
signing because Indian Government is engaged
in corruption. UNCAC Opened for signature from
9 December 2003 by the UN General Assembly &
last date was 14 December 2005.
Highly placed sources in New Delhi and Mumbai
say much of the money held in Swiss banks, and
other tax havens like the Bahamas, have been
routed into the Indian stock exchanges through
Participatory Note (PN) bought in Mauritius
through front companies. Since these instruments
are not registered to trade in Indian domestic
capital markets, the investors’ names remain
undisclosed. “The route to take out the money is
hawala and to bring it back is Participatory
Note ,” says Hemen Kapadia, one of Mumbai’s
top stock market analysts. Roughly 50-60
percent of FII investments, aggregating $85
billion till late 2009, were made through the
Participatory Note route. And according to
Kapadia, this route saw 75 percent traffic in the
last few months. A worried market regulator, the
Securities and Exchange Board of India (SEBI) is
now learnt to have asked several FIIs to furnish
details of the Participatory Note issued to their
clients, but it has been consistently stonewalled.
“They will always win by citing client
confidentiality agreements, and I doubt whether
SEBI has the necessary legal teeth to probe
further,” Kapadia points out.
India`s economic debt— http://
www.indiabudget.nic.in/es2009-10/
chapt2010/tab84.pdf
FII investment in Indian stocks this year touched
a record $18.13 billion ( Rs.82,360 crore),
according to the SEBI website. In dollar
terms the previous high was in 2007 ($17.65
billion) and in rupee terms in 2009 . Stock
market analysts say FII investment in rupee terms
is lower because of appreciation in the Indian
currency against the dollar. The Sensex last
year gained over 80 percent — a figure it
is likely to surpass this year.
Not taking into account the recently
concluded Coal India IPO, the FII bids
amounted to Rs. 1.20 lakh crore. Some
foreign entities that have placed large bids for
Coal India through PNs include Citibank ($1
billion), Merrill Lynch ($2 billion) and Deutsche
Bank ($3 billion). The Qualified Institutional Buyer
(QIB) quota in the Coal India IPO that was
oversubscribed 24 times was primarily due to
intense FII interest.
In fact, in 2007, when the then National
Security Adviser MK Narayanan had
spoken of terror funds routinely
penetrating and manipulating the
markets, he was hinting at PNs. Earlier,
the RBI too had come out with a report
expressing concern over the illegal
traffic. At that time 89 percent of the
funds invested by FIIs had come through
the PN route, RBI data
showed.According to recent estimates,
roughly $200 billion — four times the
external debt of Pakistan — is stashed
away in Swiss banks and is now being
withdrawn .
“A major area of vulnerability for us is the high
consolidated public-debt to GDP ratio of over 70
percent … (and) consolidated fiscal deficit,” says
the Governor of Reserve Bank of India (RBI), Mr.
Yaga Venugopal Reddy.
According to CIA world fact book, the Current
account balance of India is MINUS
-37,510,000,000 (minus) while China is the
wealthiest country in the world with $
426,100,000,000 (Plus) . India listed as 182 and
China as no.1 . Money inflow in India is
currently Rs 7,000 crore.
Total number of registered corruption
cases was 64,00,000 in 1989 , now in
year 2010 is 1,64,00,000 .
Hasan Ali 6 Billion Dollar swiss Bank
account—-
India News, Latest News in India, Live News India, India Breaking News - Times of India
Hasan-Alis-6bn-in-Swiss-accounts-
missing/articleshow/7365076.cms
Surely it`s time to Ban 1000 rupee note
—-
GovernanceNow.com | News
regular-story/check-corruption-ban-
rs-1000-note
Sources say that NGO is the main
source of Black Money in India.
Hindustan Times- Breaking News, India, World, Bollywood, Sports, Business
NGOs-blacklisted-for-misappropriation-
of-funds/H1-Article1-488589.aspx
The GFI report says, “From 1948 through
2008, India lost a total of $213 billion in
illicit financial flows (or illegal capital
flight). These illicit financial flows were
generally the product of corruption, bribery and
kickbacks, and criminal activities.” The total of
$213 billion is a misleading figure because “the
present value of India’s illicit financial flows is at
least $462 billion ,” the GFI report explains,
adding, “This is based on the short-term US
Treasury bill rate as a proxy for the rate of return
on assets.” The GFI (Global Financial
Integrity) report points out that the “total
capital flight represents approximately
16.6 percent of India’s GDP as of year-
end 2008”; that “illicit financial flows out
of India grew at 11.5 per cent per year”;
and, that “India lost $16 billion per year
between 2002-2006”.The present value
of illicit assets held abroad ($462 billion)
“accounts for approximately 72 per cent
of India’s underground economy —
which has been estimated to account for
50 per cent of India’s GDP ($640 billion
at the end of 2008)”. Just above a quarter of
illicit assets are held domestically.The fact that
deposits in tax havens have increased from 36.4
per cent of illicit financial flows in 1995 to 54.2
per cent in 2009 tells its own story.
Well if Swiss Bank cann`t give information to
India then why Indian Government is not
stopping money that they are coming
from outside India . But how can a corrupt
system do?
We need to start a movement to pressurize the
government to do so !! this is perhaps the only
way, and a golden opportunity, to expose the
high and mighty and weed out corruption !!
Is India poor, who says? Ask Swiss banks With
personal account deposit bank of $1500 billion in
foreign reserve which have been
misappropriated, an amount 13 times larger than
the country’s foreign debt, one needs to rethink if
India is a poor country?.
INDIA`S BLACK MONEY IN SWISS BANK
This is not so surprising .India is the world`s
most corrupt country.Corruption is not new in
India.Recently due to international pressure,
Swiss government agreed to disclose the names
of the account holders only if the respective
government formally asked for it.
Black money in Swiss banks — Swiss
Banking Association report, 2006 details
bank deposits in the territory of
Switzerland by nationals of following
countries:
Top five
India—- $1,456 billion
Russia —$ 470 billion
UK ——-$390 billion
Ukraine – $100 billion
China —–$ 96 billion
India has more money in Swiss bank than all
the other countries combined.Second best
Russia has 4 times lesser deposit. US is not even
there in the counting in top five.
609 people in India having legal property
more than Rs- 100 crores (Rs- 10
Million). Indian President one day living
cost is Rs-8 crore, living in a place
where 350 flats.One day Indian
Parliament running cost is around 9 crore
Rupees.Britishers looted 350 Lakh Crore
in 250 years whereas Indian himself
looted 330 crore. 70 Lakh crore only
deposited in swiss bank. 84000 corrupt
people in India.India has around 450
Billion dollar of coal deposit & 170
billion of iron ore deposit,looted by state
politicians .According to Indian
Government around 1 Lakh place in India
where people doing illegal mining.
Dishonest persons, scandalous politicians and
corrupt IAS , IPS officers have deposited in
foreign banks in their illegal personal accounts a
sum of about $ 1500 billion, which have been
misappropriated by them. From 2003 to 2010 out
of 5,635 IPS officers fifty( 50 ) IPS officers were
resigned and joined private company.
This amount is about 13 times larger
than the country’s foreign debt . With this
amount 45 crore poor people can get Rs
1,00,000 each. This huge amount has been
appropriated from the people of India by
exploiting and betraying them.
Some 80,000 people travel to
Switzerland every year, of whom 25,000
travel very frequently.“Obviously, these
people won’t be tourist s.
Why our Indian Government is not asking
to swiss Bank? Well the answer is
simple , our Government is working
under the influence of those politicians &
industrialists who have huge deposit in
Swiss bank.They cann`t expose their
own people.
USA have settled their Swiss bank
Account & their top Billionares in their
countries paid to their country 50% of
their Money which includes Gates &
Bloomberg.Italy got 6.4 Billion dollar
from swiss Bank,Germany got 5.7 Billion
dollar from swiss Bank & France got 1.7
Billion dollar from swiss Bank.
Schweitzer Illustrierte , a Swiss news
magazine,published on 19th November 1991, has
alleged in an old issue that the Soviet
intelligence agency KGB had deposited US
$2.2 billion in a Swiss bank account in
1985 in the “minor” account of Rahul Gandhi
managed by his mother Sonia Gandhi .
Janata Party President Dr Subramanian
Swamy , who had secured an order from the
Delhi High Court to the CBI to investigate alleged
receipt of slush money by late former Prime
Minister Rajiv Gandhi’s family, has cited a
November 1991 issue of the Swiss magazine
in support of his charge.He has further claimed
that the payments were authorized by CPSU by a
resolution CPSU/CC/No 11228/3 dated
20/12/1985 and the same was also endorsed
by the USSR Council of Ministers in Directive No
2633/Rs dated 20/12/1985. He also claimed that
these payments had been coming since 1971 as
the payments received by Sonia Gandhi’s family
“have been audited in CPSU/CC resolution No
11187/22 OP dated 10/12/1984. Reference:–
TWO BILLION DOLLARS IN RAHUL GANDHI'S ACCOUNT?
Why Government is not taking action on corrupt
peoples ? Why CBI is not independently
working? well answer is simple ,Government is
taking lots of money in the name of party fund
and also taking help from those politicians who
are involved in
criminal charges.Whole police in India is working
under politicians. According to RBI(Reserve
Bank Of India) Rupees 17,18,826 crore
notes print in India between year
2000-2010. Rupees 10 Lakh Crore money
incirculation in India. Generally 2-3 % of
GDP money circulation in other
countries. But Indian Government has
allowed four Swiss bank & Eight Bank
of Italy in India.
Sources says that NGO is also engaged
in converting black money into white
Money.
swiss bank(ubs) revealed 6000 USA
people names . In may 2008 Germany
bank revealed 28 people names but
government is still hiding their names.
Even the Supreme court of India asked
for names three times. But Government
only make deal with 23 countries of
Double Taxation.
USA got his
money, France , Italy , countries like
Singapore fought and get their
money.India has more than 3.5 crore
taxpayers. Black Money can be used by
terrorists. Probably they are trying to
move money to other countries or will
invest in real-estate like in dubai or arab
countries.After huge pressure from
media & civil society Government has
joined FATA (Financial Action Task
Force) group only to delay issue.
India Today - Breaking News from India, World, Business and Politics
Story/126998/LATEST%20HEADLINES/
indian-link-to-swiss-money-trail-
revealed.html
In the data shared by Ex-Swiss banker Rudolf
Elmer , there are at least three companies that
go by the name of Annapurna. These accounts
have been opened in the New York branch of the
Swiss Bank Julius Baer.These accounts are
Annapurna Convertible Ltd, account number
420331. Annapurna Leverage Ltd, account
number 427039 .Annapurna Convertible USD,
account number 431916.Money running into
crores of rupees has been stashed away in these
accounts.57 million dollars or Rs 259 crore have
been stashed away in Annapurna Convertible ltd.
18.6 million dollars or Rs 84 crore are lying in
Annapurna Leverage Limited.And 10.3 million
dollars or Rs 45 crore are hidden away in the
account of Annapurna Convertible.Interestingly,
the documents list the same company and same
person as managing all the Annapurna
accounts.Annapurna Convertible, Annapurna
Leverage and Annapurna Convertible USD are all
managed by Pius Fisch of Fisch Asset
Management .The other name to come out was
that of Asad Ali Khan and his wife Zahida,
who was a co-account holder. Headlines Today
scoured through the records sent to us by Rudolf
Elmer and found out how Asad Ali Khan had
siphoned off a huge amount of money to the
Julius Baer Bank in Cayman Islands.A company
in the name of Unicorp Services was
incorporated in Cayman Islands.Its registered
address is Post Box 1100, Kirk House, Grand
Cayman Island, BWI.According to Elmer’s
documents, the registration number of the
company is 00233755.In the year 1999, Asad Ali
Khan and Zahida were present for the dissolution
of this company as directors of Unicorp Services
in Cayman Islands.Elmer’s data also shows that
the account was being managed by J.M.I.
Gillani.The official address is: Banque Julius
Baer, 2 Boulevard du Theatre, Case Postale, CH
1211, Geneva 11, Switzerland.
Where Black money is being used?
Election, Air travel , Tour, Restaurants, Land,
Jewelery.
Who is involved in Black Money? Senior
bureaucrats (IAS,IPS officers), Ministers of
Export-Import,Comerce, Chief Ministers, Top
Industrialists , Horse Trader, Liquor Trader.
4000 kg gold sold in year 2010 in India.
144 nations signed UNCAC (United Nation
Convention Against Corruption) but India is not
signing because Indian Government is engaged
in corruption. UNCAC Opened for signature from
9 December 2003 by the UN General Assembly &
last date was 14 December 2005.
Highly placed sources in New Delhi and Mumbai
say much of the money held in Swiss banks, and
other tax havens like the Bahamas, have been
routed into the Indian stock exchanges through
Participatory Note (PN) bought in Mauritius
through front companies. Since these instruments
are not registered to trade in Indian domestic
capital markets, the investors’ names remain
undisclosed. “The route to take out the money is
hawala and to bring it back is Participatory
Note ,” says Hemen Kapadia, one of Mumbai’s
top stock market analysts. Roughly 50-60
percent of FII investments, aggregating $85
billion till late 2009, were made through the
Participatory Note route. And according to
Kapadia, this route saw 75 percent traffic in the
last few months. A worried market regulator, the
Securities and Exchange Board of India (SEBI) is
now learnt to have asked several FIIs to furnish
details of the Participatory Note issued to their
clients, but it has been consistently stonewalled.
“They will always win by citing client
confidentiality agreements, and I doubt whether
SEBI has the necessary legal teeth to probe
further,” Kapadia points out.
India`s economic debt— http://
www.indiabudget.nic.in/es2009-10/
chapt2010/tab84.pdf
FII investment in Indian stocks this year touched
a record $18.13 billion ( Rs.82,360 crore),
according to the SEBI website. In dollar
terms the previous high was in 2007 ($17.65
billion) and in rupee terms in 2009 . Stock
market analysts say FII investment in rupee terms
is lower because of appreciation in the Indian
currency against the dollar. The Sensex last
year gained over 80 percent — a figure it
is likely to surpass this year.
Not taking into account the recently
concluded Coal India IPO, the FII bids
amounted to Rs. 1.20 lakh crore. Some
foreign entities that have placed large bids for
Coal India through PNs include Citibank ($1
billion), Merrill Lynch ($2 billion) and Deutsche
Bank ($3 billion). The Qualified Institutional Buyer
(QIB) quota in the Coal India IPO that was
oversubscribed 24 times was primarily due to
intense FII interest.
In fact, in 2007, when the then National
Security Adviser MK Narayanan had
spoken of terror funds routinely
penetrating and manipulating the
markets, he was hinting at PNs. Earlier,
the RBI too had come out with a report
expressing concern over the illegal
traffic. At that time 89 percent of the
funds invested by FIIs had come through
the PN route, RBI data
showed.According to recent estimates,
roughly $200 billion — four times the
external debt of Pakistan — is stashed
away in Swiss banks and is now being
withdrawn .
“A major area of vulnerability for us is the high
consolidated public-debt to GDP ratio of over 70
percent … (and) consolidated fiscal deficit,” says
the Governor of Reserve Bank of India (RBI), Mr.
Yaga Venugopal Reddy.
According to CIA world fact book, the Current
account balance of India is MINUS
-37,510,000,000 (minus) while China is the
wealthiest country in the world with $
426,100,000,000 (Plus) . India listed as 182 and
China as no.1 . Money inflow in India is
currently Rs 7,000 crore.
Total number of registered corruption
cases was 64,00,000 in 1989 , now in
year 2010 is 1,64,00,000 .
Hasan Ali 6 Billion Dollar swiss Bank
account—-
India News, Latest News in India, Live News India, India Breaking News - Times of India
Hasan-Alis-6bn-in-Swiss-accounts-
missing/articleshow/7365076.cms
Surely it`s time to Ban 1000 rupee note
—-
GovernanceNow.com | News
regular-story/check-corruption-ban-
rs-1000-note
Sources say that NGO is the main
source of Black Money in India.
Hindustan Times- Breaking News, India, World, Bollywood, Sports, Business
NGOs-blacklisted-for-misappropriation-
of-funds/H1-Article1-488589.aspx
The GFI report says, “From 1948 through
2008, India lost a total of $213 billion in
illicit financial flows (or illegal capital
flight). These illicit financial flows were
generally the product of corruption, bribery and
kickbacks, and criminal activities.” The total of
$213 billion is a misleading figure because “the
present value of India’s illicit financial flows is at
least $462 billion ,” the GFI report explains,
adding, “This is based on the short-term US
Treasury bill rate as a proxy for the rate of return
on assets.” The GFI (Global Financial
Integrity) report points out that the “total
capital flight represents approximately
16.6 percent of India’s GDP as of year-
end 2008”; that “illicit financial flows out
of India grew at 11.5 per cent per year”;
and, that “India lost $16 billion per year
between 2002-2006”.The present value
of illicit assets held abroad ($462 billion)
“accounts for approximately 72 per cent
of India’s underground economy —
which has been estimated to account for
50 per cent of India’s GDP ($640 billion
at the end of 2008)”. Just above a quarter of
illicit assets are held domestically.The fact that
deposits in tax havens have increased from 36.4
per cent of illicit financial flows in 1995 to 54.2
per cent in 2009 tells its own story.
Well if Swiss Bank cann`t give information to
India then why Indian Government is not
stopping money that they are coming
from outside India . But how can a corrupt
system do?
We need to start a movement to pressurize the
government to do so !! this is perhaps the only
way, and a golden opportunity, to expose the
high and mighty and weed out corruption !!
Is India poor, who says? Ask Swiss banks With
personal account deposit bank of $1500 billion in
foreign reserve which have been
misappropriated, an amount 13 times larger than
the country’s foreign debt, one needs to rethink if
India is a poor country?.
INDIA`S BLACK MONEY IN SWISS BANK
This is not so surprising .India is the world`s
most corrupt country.Corruption is not new in
India.Recently due to international pressure,
Swiss government agreed to disclose the names
of the account holders only if the respective
government formally asked for it.
Black money in Swiss banks — Swiss
Banking Association report, 2006 details
bank deposits in the territory of
Switzerland by nationals of following
countries:
Top five
India—- $1,456 billion
Russia —$ 470 billion
UK ——-$390 billion
Ukraine – $100 billion
China —–$ 96 billion
India has more money in Swiss bank than all
the other countries combined.Second best
Russia has 4 times lesser deposit. US is not even
there in the counting in top five.
609 people in India having legal property
more than Rs- 100 crores (Rs- 10
Million). Indian President one day living
cost is Rs-8 crore, living in a place
where 350 flats.One day Indian
Parliament running cost is around 9 crore
Rupees.Britishers looted 350 Lakh Crore
in 250 years whereas Indian himself
looted 330 crore. 70 Lakh crore only
deposited in swiss bank. 84000 corrupt
people in India.India has around 450
Billion dollar of coal deposit & 170
billion of iron ore deposit,looted by state
politicians .According to Indian
Government around 1 Lakh place in India
where people doing illegal mining.
Dishonest persons, scandalous politicians and
corrupt IAS , IPS officers have deposited in
foreign banks in their illegal personal accounts a
sum of about $ 1500 billion, which have been
misappropriated by them. From 2003 to 2010 out
of 5,635 IPS officers fifty( 50 ) IPS officers were
resigned and joined private company.
This amount is about 13 times larger
than the country’s foreign debt . With this
amount 45 crore poor people can get Rs
1,00,000 each. This huge amount has been
appropriated from the people of India by
exploiting and betraying them.
Some 80,000 people travel to
Switzerland every year, of whom 25,000
travel very frequently.“Obviously, these
people won’t be tourist s.
Why our Indian Government is not asking
to swiss Bank? Well the answer is
simple , our Government is working
under the influence of those politicians &
industrialists who have huge deposit in
Swiss bank.They cann`t expose their
own people.
USA have settled their Swiss bank
Account & their top Billionares in their
countries paid to their country 50% of
their Money which includes Gates &
Bloomberg.Italy got 6.4 Billion dollar
from swiss Bank,Germany got 5.7 Billion
dollar from swiss Bank & France got 1.7
Billion dollar from swiss Bank.
Schweitzer Illustrierte , a Swiss news
magazine,published on 19th November 1991, has
alleged in an old issue that the Soviet
intelligence agency KGB had deposited US
$2.2 billion in a Swiss bank account in
1985 in the “minor” account of Rahul Gandhi
managed by his mother Sonia Gandhi .
Janata Party President Dr Subramanian
Swamy , who had secured an order from the
Delhi High Court to the CBI to investigate alleged
receipt of slush money by late former Prime
Minister Rajiv Gandhi’s family, has cited a
November 1991 issue of the Swiss magazine
in support of his charge.He has further claimed
that the payments were authorized by CPSU by a
resolution CPSU/CC/No 11228/3 dated
20/12/1985 and the same was also endorsed
by the USSR Council of Ministers in Directive No
2633/Rs dated 20/12/1985. He also claimed that
these payments had been coming since 1971 as
the payments received by Sonia Gandhi’s family
“have been audited in CPSU/CC resolution No
11187/22 OP dated 10/12/1984. Reference:–
TWO BILLION DOLLARS IN RAHUL GANDHI'S ACCOUNT?
Why Government is not taking action on corrupt
peoples ? Why CBI is not independently
working? well answer is simple ,Government is
taking lots of money in the name of party fund
and also taking help from those politicians who
are involved in
criminal charges.Whole police in India is working
under politicians. According to RBI(Reserve
Bank Of India) Rupees 17,18,826 crore
notes print in India between year
2000-2010. Rupees 10 Lakh Crore money
incirculation in India. Generally 2-3 % of
GDP money circulation in other
countries. But Indian Government has
allowed four Swiss bank & Eight Bank
of Italy in India.
Sources says that NGO is also engaged
in converting black money into white
Money.
swiss bank(ubs) revealed 6000 USA
people names . In may 2008 Germany
bank revealed 28 people names but
government is still hiding their names.
Even the Supreme court of India asked
for names three times. But Government
only make deal with 23 countries of
Double Taxation.
USA got his
money, France , Italy , countries like
Singapore fought and get their
money.India has more than 3.5 crore
taxpayers. Black Money can be used by
terrorists. Probably they are trying to
move money to other countries or will
invest in real-estate like in dubai or arab
countries.After huge pressure from
media & civil society Government has
joined FATA (Financial Action Task
Force) group only to delay issue.
India Today - Breaking News from India, World, Business and Politics
Story/126998/LATEST%20HEADLINES/
indian-link-to-swiss-money-trail-
revealed.html
In the data shared by Ex-Swiss banker Rudolf
Elmer , there are at least three companies that
go by the name of Annapurna. These accounts
have been opened in the New York branch of the
Swiss Bank Julius Baer.These accounts are
Annapurna Convertible Ltd, account number
420331. Annapurna Leverage Ltd, account
number 427039 .Annapurna Convertible USD,
account number 431916.Money running into
crores of rupees has been stashed away in these
accounts.57 million dollars or Rs 259 crore have
been stashed away in Annapurna Convertible ltd.
18.6 million dollars or Rs 84 crore are lying in
Annapurna Leverage Limited.And 10.3 million
dollars or Rs 45 crore are hidden away in the
account of Annapurna Convertible.Interestingly,
the documents list the same company and same
person as managing all the Annapurna
accounts.Annapurna Convertible, Annapurna
Leverage and Annapurna Convertible USD are all
managed by Pius Fisch of Fisch Asset
Management .The other name to come out was
that of Asad Ali Khan and his wife Zahida,
who was a co-account holder. Headlines Today
scoured through the records sent to us by Rudolf
Elmer and found out how Asad Ali Khan had
siphoned off a huge amount of money to the
Julius Baer Bank in Cayman Islands.A company
in the name of Unicorp Services was
incorporated in Cayman Islands.Its registered
address is Post Box 1100, Kirk House, Grand
Cayman Island, BWI.According to Elmer’s
documents, the registration number of the
company is 00233755.In the year 1999, Asad Ali
Khan and Zahida were present for the dissolution
of this company as directors of Unicorp Services
in Cayman Islands.Elmer’s data also shows that
the account was being managed by J.M.I.
Gillani.The official address is: Banque Julius
Baer, 2 Boulevard du Theatre, Case Postale, CH
1211, Geneva 11, Switzerland.
Where Black money is being used?
Election, Air travel , Tour, Restaurants, Land,
Jewelery.
Who is involved in Black Money? Senior
bureaucrats (IAS,IPS officers), Ministers of
Export-Import,Comerce, Chief Ministers, Top
Industrialists , Horse Trader, Liquor Trader.
4000 kg gold sold in year 2010 in India.
144 nations signed UNCAC (United Nation
Convention Against Corruption) but India is not
signing because Indian Government is engaged
in corruption. UNCAC Opened for signature from
9 December 2003 by the UN General Assembly &
last date was 14 December 2005.
Highly placed sources in New Delhi and Mumbai
say much of the money held in Swiss banks, and
other tax havens like the Bahamas, have been
routed into the Indian stock exchanges through
Participatory Note (PN) bought in Mauritius
through front companies. Since these instruments
are not registered to trade in Indian domestic
capital markets, the investors’ names remain
undisclosed. “The route to take out the money is
hawala and to bring it back is Participatory
Note ,” says Hemen Kapadia, one of Mumbai’s
top stock market analysts. Roughly 50-60
percent of FII investments, aggregating $85
billion till late 2009, were made through the
Participatory Note route. And according to
Kapadia, this route saw 75 percent traffic in the
last few months. A worried market regulator, the
Securities and Exchange Board of India (SEBI) is
now learnt to have asked several FIIs to furnish
details of the Participatory Note issued to their
clients, but it has been consistently stonewalled.
“They will always win by citing client
confidentiality agreements, and I doubt whether
SEBI has the necessary legal teeth to probe
further,” Kapadia points out.
India`s economic debt— http://
www.indiabudget.nic.in/es2009-10/
chapt2010/tab84.pdf
FII investment in Indian stocks this year touched
a record $18.13 billion ( Rs.82,360 crore),
according to the SEBI website. In dollar
terms the previous high was in 2007 ($17.65
billion) and in rupee terms in 2009 . Stock
market analysts say FII investment in rupee terms
is lower because of appreciation in the Indian
currency against the dollar. The Sensex last
year gained over 80 percent — a figure it
is likely to surpass this year.
Not taking into account the recently
concluded Coal India IPO, the FII bids
amounted to Rs. 1.20 lakh crore. Some
foreign entities that have placed large bids for
Coal India through PNs include Citibank ($1
billion), Merrill Lynch ($2 billion) and Deutsche
Bank ($3 billion). The Qualified Institutional Buyer
(QIB) quota in the Coal India IPO that was
oversubscribed 24 times was primarily due to
intense FII interest.
In fact, in 2007, when the then National
Security Adviser MK Narayanan had
spoken of terror funds routinely
penetrating and manipulating the
markets, he was hinting at PNs. Earlier,
the RBI too had come out with a report
expressing concern over the illegal
traffic. At that time 89 percent of the
funds invested by FIIs had come through
the PN route, RBI data
showed.According to recent estimates,
roughly $200 billion — four times the
external debt of Pakistan — is stashed
away in Swiss banks and is now being
withdrawn .
“A major area of vulnerability for us is the high
consolidated public-debt to GDP ratio of over 70
percent … (and) consolidated fiscal deficit,” says
the Governor of Reserve Bank of India (RBI), Mr.
Yaga Venugopal Reddy.
According to CIA world fact book, the Current
account balance of India is MINUS
-37,510,000,000 (minus) while China is the
wealthiest country in the world with $
426,100,000,000 (Plus) . India listed as 182 and
China as no.1 . Money inflow in India is
currently Rs 7,000 crore.
Total number of registered corruption
cases was 64,00,000 in 1989 , now in
year 2010 is 1,64,00,000 .
Hasan Ali 6 Billion Dollar swiss Bank
account—-
India News, Latest News in India, Live News India, India Breaking News - Times of India
Hasan-Alis-6bn-in-Swiss-accounts-
missing/articleshow/7365076.cms
Surely it`s time to Ban 1000 rupee note
—-
GovernanceNow.com | News
regular-story/check-corruption-ban-
rs-1000-note
Sources say that NGO is the main
source of Black Money in India.
Hindustan Times- Breaking News, India, World, Bollywood, Sports, Business
NGOs-blacklisted-for-misappropriation-
of-funds/H1-Article1-488589.aspx
The GFI report says, “From 1948 through
2008, India lost a total of $213 billion in
illicit financial flows (or illegal capital
flight). These illicit financial flows were
generally the product of corruption, bribery and
kickbacks, and criminal activities.” The total of
$213 billion is a misleading figure because “the
present value of India’s illicit financial flows is at
least $462 billion ,” the GFI report explains,
adding, “This is based on the short-term US
Treasury bill rate as a proxy for the rate of return
on assets.” The GFI (Global Financial
Integrity) report points out that the “total
capital flight represents approximately
16.6 percent of India’s GDP as of year-
end 2008”; that “illicit financial flows out
of India grew at 11.5 per cent per year”;
and, that “India lost $16 billion per year
between 2002-2006”.The present value
of illicit assets held abroad ($462 billion)
“accounts for approximately 72 per cent
of India’s underground economy —
which has been estimated to account for
50 per cent of India’s GDP ($640 billion
at the end of 2008)”. Just above a quarter of
illicit assets are held domestically.The fact that
deposits in tax havens have increased from 36.4
per cent of illicit financial flows in 1995 to 54.2
per cent in 2009 tells its own story.
Well if Swiss Bank cann`t give information to
India then why Indian Government is not
stopping money that they are coming
from outside India . But how can a corrupt
system do?
We need to start a movement to pressurize the
government to do so !! this is perhaps the only
way, and a golden opportunity, to expose the
high and mighty and weed out corruption !!
Is India poor, who says? Ask Swiss banks With
personal account deposit bank of $1500 billion in
foreign reserve which have been
misappropriated, an amount 13 times larger than
the country’s foreign debt, one needs to rethink if
India is a poor country?.
Last edited:
